Why it Will Take Years to Replace Target and Future Shop’s Shuttered Canadian Locations

Target will finish vacating all of its 133 Canadian locations by next Sunday, April 12, and Best Buy permanently shuttered 66 former Future Shop locations last week. Many are already speculating on who will replace these empty boxes, if they can ever be filled at all. Although some prime real estate will easily be leased to new tenants, a number of former Target and Future Shop stores are in less-than-prime locations. We spoke with a commercial real estate landlord and expert who, on the condition of anonymity, provided us the opinion that Target’s Canadian exit could even lead to the demolition of some shopping plazas and that Future Shop’s demise makes things even worse. Adding to landlord woes is the possibility thatSears Canada and potentially others could also exit Canada this year, creating a substantial oversupply of Canadian store real estate in only a few months time…. Read the rest through our retail expert: Retail – Insider